Testing new heights - TQQQ Going to Drop from this Resistance
Based on very simple technical analysis on the weekly chart, it's looking like TQQQ is about to ricochet off the top and likely end up crashing due to decreased trading volumes in the NASDAQ. Without the volume to artificially prop up the stock prices underlying the TQQQ ETF, I'm predicting a stunning downside movement. History shows us that when this topline resistance is hit, things go down. At the minimum, I'm predicting a 15% downside movement. If this week's economic data continues to point negative, I think it'll lock into a downward cycle.
This is not trading advice, but merely an observation and prediction.
This is not trading advice, but merely an observation and prediction.
Nota
Broke through like a beast. Will likely come back down in short term, but likely continue higher.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.